Fotowatio Renewable Ventures (FRV) has closed the financing agreement for the 115 MWac Metz Solar Farm. The funding is provided by Westpac and NORD/LB in the form of a Green Loan compliant with the Loan Market Association Green Loan Principles and the Green Projects requirements.
FRV completed the acquisition of the project in November 2020. The project is underpinned by a Power Purchase Agreement (PPA) with Snowy Hydro, signed in 2018.
Located in the New England region of New South Wales near Hillgrove, 20 km east of Armidale, the plant will connect to the national grid and generate enough power to supply up to 40,000 Australian households each year; more than half of the total 66,000 households in the region. At the same time, it is estimated that the annual greenhouse gas emissions avoided by the project will be 288,000 tonnes of CO2equivalent.
